Are you looking to make a little extra cash, but have no idea where to start? Well, if you own a property, you may have the only thing you need to give yourself another income stream. From the obvious, to the surprising, here are a few ways you can make money from a property
Let the property
If you have a property that is standing empty, then a straightforward let is a fantastic option to make money. Obviously, if you are a first time landlord, there are some things that would be better left to the professionals as they will have the necessary experience. You should consider using a company like hertsinventories.co.uk who will make things run smoother for you. They will have specialist services like inventory taking and inspection services that could save you heartbreak later on.
Let a Room
Even if you are living in your property, letting out a room is still a possibility, and it will mean that you are there to make sure your tenants are treating your property with respect. If you cannot find suitable tenants, you could try the rent a room scheme where the government will pay you to rent out any spare rooms that you have.
There is also the option to rent out your property while you take a holiday, which will at least earn you a little money. There are companies that will help you find tenants for short breaks, and these companies will organize everything from finding the tenant to inspecting the property and organizing payment. This is hardly a long term way to make money, but it is a great way to pay for the accommodation for your trip.
Rent for Location
If you have an unusual home, or a home in a desirable neighbourhood, you have the option of approaching location companies that find properties for film and television companies to use. One example is Shootfactory, who (after you register) will show your property to their clients to see if your property is suitable. Doing this could earn you from £500 a day, and can become a regular income stream.
Another way to use your location is for sporting events or festivals. You could rent your property to those who wish to stay in an area like Wimbledon while the tennis tournament is being played, and pocket the cash for a few weeks. A business like rentmyhouse.com will help you find a tenant for your home during events, and allow you to negotiate the price yourself
Some companies will pay you to use your house as an advertising billboard, though these companies will generally require a property with a detached wall to place their advertising. You should only consider this if you don not mind your home becoming an eyesore for a while, and you will also need to get permission from your local authority to make sure you don’t break any laws.
Not everybody likes to invite people into their properties, but if you don’t mind, you can make a considerable amount of money using these options.